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in fiscal cliff that we're talking about that should come in the beginning of february when voters realize how much smaller their paychecks are and mgm is having a year end clearance sale at the citi center property. monetizing. monetizing. then there's the balance sheet. this may be the single most important point of the story. when jim took over mgm's balance sheet was hideous. it was just awful. in 2009 the company was in vital of its debt covenants. mgm had to pay down debt by selling treasure island, one of my favorite casinos, for $775 million. the company was given time to get its house in order. fast forward to earlier this month. mgm announced 4.8 billion refinance of debt. the company is paying sdoun its inner secured notes. they replaced it with new lower rate senior notes and term limits. this is what you really look for. this is a huge, huge deal. okay. for caesar's i want to buy bonds but here i want to buy the common. mgm stock popped on the news of the refi. i think it puts a floor in the stock at ten and two bucks below where it is right now and they should pay $4 billion
of all. >> join "mad money"'s training camp weeknights. >> four days left to avoid the fiscal cliff. who will compromise and will a deal get done to rescue the american economy? stay with cnbc for full-time reports to see who will rise above. who will compromise and will a ♪ >> all night i've been talking to you about the new diversification, a way to diversify by strategy, not just sectors so you can thrive in any market. look, we still believe in the old kind of diversification by group, but we've also got a new prism going here. remember, you need a high-yieldner your portfolio, a big dividend-paying stock for downside protection and the massive multi-year gains that come from reinvesting the dividends, and you must reinvest. second, you need a way to profit a whole lot when the market is in good shape. sometimes it is, and still potentially keep delivering gains if things get worse which is why you must have exposure to growth, preferably a high quality secular growth stock where the earnings estimate is a powerful momentum and then a speculative stock, something that trades for le
Search Results 0 to 1 of about 2